The GTM tools map — US vs European GTM tech

Europe has exactly 1 GTM unicorn. The US has 6.

We pinned 63 GTM tools to the city where they're actually built (map below).

Europe builds 31 of them. The US builds 32. Almost even.

Then we checked the valuations.

US side: - Clay: $3.1B (doubled in 12 months) - Outreach: $4.4B - Salesloft x Clari: multi-billion merger, closed Dec 2025 - Apollo: $1.6B - HubSpot and Salesforce on top as public giants

Europe side: - Pipedrive: $1.5B. Same mark since 2020. Corporate HQ moved to New York.

That's it. That's the list.

(n8n from Berlin is worth $5.2B since the SAP round. But n8n is horizontal automation infra rather than GTM. Count it and Europe still loses 6 to 2.)

Europe doesn't lack GTM builders. It lacks GTM category bets.

- lemlist: ~$40M ARR, zero VC - HeyReach: $10M ARR with 23 people in Skopje - Paris alone ships 11 GTM tools

And the categories are moving right now: ZoomInfo peaked at $27B in 2021 and trades under $1B today. Clay doubled in the same window. The value moved from owning static data to engineering GTM.

So that's the real question if you build GTM tech: Europe or the US?

We made our call. We're building OXYGEN in San Francisco. But a huge part of our customers still come from Europe.

It sounds a bit cheesy, but Europe has come up with absolutely great tools. Attio and HeyReach are my favorite examples. Absolute banger tools.

US companies have this massive scale and distribution. The US market is just immense.

Which tools did I forget?